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Flexible Retail/ Office for Versatile Reuse 875 W Chestnut St 4,860 SF Vacant Retail Building Online Auction Sale Washington, PA 15301
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Investment Highlights
- 875 W Chestnut Street is a 4,860-square-foot freestanding mixed-use property on a 0.77-acre parcel with direct frontage along State Route 40.
- Retail or office opportunity to reinvigorate an established property with excellent visibility, catering to a variety of commercial uses.
- Prime retail storefront location, as W Chestnut Street is a sidewalk-lined, heavy foot-traffic location.
- Among Downtown Washington’s commercial corridors, near Jefferson Court Plaza, Washington Crown Center, and local and national retailers.
- Washington is 5 miles from several regional attractions, including the Tanger Outlets and the Hollywood Casino at the Meadows.
- Washington & Jefferson College (1.5 miles) is a private college in the city center and one of the top 50 employers in Washington County.
Executive Summary
CBRE presents 875 W Chestnut Street, an exceptional blank-slate mixed-use opportunity with untapped growth potential and a prime location along Washington, Pennsylvania's main commercial corridor. This freestanding asset will be delivered vacant, offering upside for retail quick-service, medical office, and other commercial concepts.
With a recent build-out as a turnkey vape shop and medical office, the interior features a spacious showroom floor with glass display cases, multiple private offices, a break room, and staff common areas. Many opportunities for building signage are available, as are numerous points of ingress/egress. The property boasts 225 feet of frontage along W Chestnut Street/State Route 40, exposing the asset to more than 12,000 daily passing vehicles.
Downtown Washington’s commercial corridor is lined with national retailers, local restaurants and cafes, as well as parks and sportsplexes for recreational use. Surrounding national retailers include Marshalls, Dunkin’, Walgreens, Vocelli Pizza, Tropical Smoothie Café, Goodwill, and more. Further surrounding demand drivers, Tanger Outlets of Pittsburgh (a 10-minute drive) is home to key tenants like Nike, Yankee Candle, and Kirkland’s, and the Hollywood Casino at the Meadows (a 12-minute drive) offers horse racing, live casino betting, and dining.
According to CoStar analytics, more than $1.3 billion in robust annual consumer spending is generated within the subject asset's 10-mile radius. The area is also home to a growing population of just shy of 100,000 residents. Food and drinks, vehicle repairs and maintenance, and household operations are the three largest spending categories, all aligning with 875 W Chestnut Street’s capabilities and upside.
Property tours are by appointment only. Please contact the listing broker to schedule.
With a recent build-out as a turnkey vape shop and medical office, the interior features a spacious showroom floor with glass display cases, multiple private offices, a break room, and staff common areas. Many opportunities for building signage are available, as are numerous points of ingress/egress. The property boasts 225 feet of frontage along W Chestnut Street/State Route 40, exposing the asset to more than 12,000 daily passing vehicles.
Downtown Washington’s commercial corridor is lined with national retailers, local restaurants and cafes, as well as parks and sportsplexes for recreational use. Surrounding national retailers include Marshalls, Dunkin’, Walgreens, Vocelli Pizza, Tropical Smoothie Café, Goodwill, and more. Further surrounding demand drivers, Tanger Outlets of Pittsburgh (a 10-minute drive) is home to key tenants like Nike, Yankee Candle, and Kirkland’s, and the Hollywood Casino at the Meadows (a 12-minute drive) offers horse racing, live casino betting, and dining.
According to CoStar analytics, more than $1.3 billion in robust annual consumer spending is generated within the subject asset's 10-mile radius. The area is also home to a growing population of just shy of 100,000 residents. Food and drinks, vehicle repairs and maintenance, and household operations are the three largest spending categories, all aligning with 875 W Chestnut Street’s capabilities and upside.
Property tours are by appointment only. Please contact the listing broker to schedule.
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- Operating and Financials
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Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,860 SF
Building Class
C
Year Built
1984
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.77 AC
Parcel Number
7800140002001700
Parking
62 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
225’ on Chestnut St
Demographics
Demographics
1 mile
3 mile
5 mile
2024 Population
8,185
33,922
48,507
2020 Population
8,069
32,929
47,241
2029 Population
8,276
34,399
49,160
2024-2029 Projected Population Growth
1.1%
1.4%
1.4%
Daytime Employees
9,240
25,118
31,746
Total Businesses
1,008
2,490
3,164
Average Household Income
$68,521
$74,782
$82,775
Median Household Income
$54,773
$58,489
$64,508
Total Consumer Spending
$86.5M
$399.5M
$612M
Median Age
40.1
42.4
44.1
2024 Households
3,510
14,650
20,781
Percent College Degree or Above
12%
15%
16%
Average Home Value
$141,803
$192,348
$226,324
$ values in USD
Nearby Major Retailers
Sale Advisors
Sale Advisors
Robert Gold, First Vice President & Salesperson
Robert has been in the commercial real estate business for over 36 years, beginning his career with Coldwell Banker Commercial Real Estate (now CBRE, Inc) in Columbus, Ohio in 1984. He subsequently moved to Pittsburgh to join Gold & Company, Inc, a brokerage and development firm for 11 years until it merged with CBRE in 1999. He has been at CBRE for 21 years, specializing in retail and investment properties. He leads a team that covers Western Pennsylvania, Eastern Ohio and the entire state of West Virginia.
His current activities include the representation of retailers in the acquisition of sites including; Planet Fitness, Outback Steakhouse, Great Clips, City Barbeque, Kay Jewelers, AMC Theatres and numerous others. In his site location activities, he covers Western Pennsylvania including State College, Erie and Pittsburgh, as well as the entire State of West Virginia.
In addition to his site acquisition activities, Mr Gold represents owners and retailers in leasing or subleasing shopping centers and retail spaces. He leases both new construction and existing shopping centers for large and small developers and owners. He has done leasing work for American Express, DBSI, Laramie Associates, Colony Holdings and The Glimcher Group. He has helped Home Depot, K Mart, Wal Mart, McDonald’s, Ford, CVS, Food Lion, Staples, Toys R Us, Darden Restaurants and many other retailers in the disposition of excess spaces in Western Pennsylvania, Eastern Ohio and throughout West Virginia.
Mr. Gold has also represented both buyers and sellers of investment properties. He has represented West Virginia University, Nassimi Realty, Colony Holdings, Capital Growth Buchalter, Bedway Development, Quattro Development Realty Income, United Growth and many others.
His current activities include the representation of retailers in the acquisition of sites including; Planet Fitness, Outback Steakhouse, Great Clips, City Barbeque, Kay Jewelers, AMC Theatres and numerous others. In his site location activities, he covers Western Pennsylvania including State College, Erie and Pittsburgh, as well as the entire State of West Virginia.
In addition to his site acquisition activities, Mr Gold represents owners and retailers in leasing or subleasing shopping centers and retail spaces. He leases both new construction and existing shopping centers for large and small developers and owners. He has done leasing work for American Express, DBSI, Laramie Associates, Colony Holdings and The Glimcher Group. He has helped Home Depot, K Mart, Wal Mart, McDonald’s, Ford, CVS, Food Lion, Staples, Toys R Us, Darden Restaurants and many other retailers in the disposition of excess spaces in Western Pennsylvania, Eastern Ohio and throughout West Virginia.
Mr. Gold has also represented both buyers and sellers of investment properties. He has represented West Virginia University, Nassimi Realty, Colony Holdings, Capital Growth Buchalter, Bedway Development, Quattro Development Realty Income, United Growth and many others.
Eric Greenfield, Salesperson
Eric Greenfield is a Vice President with the CBRE Investment Properties Group in Pittsburgh. Mr. Greenfield specializes in advising clients in the disposition and acquisition of income-producing office, retail, multi-housing, industrial and net leased properties.
In 2011, Mr. Greenfield relocated to Pittsburgh from New York City where he worked as a real estate broker for over 17 years. He began his brokerage career at Quality Living Village Inc. as a residential leasing and sales representative. In 2002, after several successful years in the residential sector, Eric transitioned to commercial investment real estate and started working as a broker with Marcus & Millichap of Manhattan. In 2004, Eric moved to Massey Knakal Realty Services of New York where he became a First Vice President and focused on multi-housing, mixed-use and development sales in Brooklyn. While at Massey Knakal, Eric closed more than 70 property transactions with an approximate aggregate value of $500 million. Since being with CBRE Inc. of Pittsburgh Eric has become one of the companies’ experts in investment property sales in Pennsylvania, New York and West Virginia with a focus on all income producing investment property types including retail, net-leased, office, Industrial and multi-family. In the 5 years since Eric has been back in Pittsburgh he has successfully sold more than 40 transactions exceeding an aggregate value of over $200 million. The combination of Eric's previous transactional experience in New York City along with his expertise in the Pennsylvania and West Virginia real estate markets, Eric has the wellrounded track record needed to help his clients achieve their goals.
In 2011, Mr. Greenfield relocated to Pittsburgh from New York City where he worked as a real estate broker for over 17 years. He began his brokerage career at Quality Living Village Inc. as a residential leasing and sales representative. In 2002, after several successful years in the residential sector, Eric transitioned to commercial investment real estate and started working as a broker with Marcus & Millichap of Manhattan. In 2004, Eric moved to Massey Knakal Realty Services of New York where he became a First Vice President and focused on multi-housing, mixed-use and development sales in Brooklyn. While at Massey Knakal, Eric closed more than 70 property transactions with an approximate aggregate value of $500 million. Since being with CBRE Inc. of Pittsburgh Eric has become one of the companies’ experts in investment property sales in Pennsylvania, New York and West Virginia with a focus on all income producing investment property types including retail, net-leased, office, Industrial and multi-family. In the 5 years since Eric has been back in Pittsburgh he has successfully sold more than 40 transactions exceeding an aggregate value of over $200 million. The combination of Eric's previous transactional experience in New York City along with his expertise in the Pennsylvania and West Virginia real estate markets, Eric has the wellrounded track record needed to help his clients achieve their goals.
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Auctioneer License:
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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